Rep. Maxine Waters has always been a lunatic, so the following is in keeping with her past history.
The loon wants to investigate Melania Trump's immigration status.
From the Gateway Pundit:
The lunatic California Congresswoman Maxine Waters is at it again.
Addressing an anti-Trump rally in Los Angeles this weekend, Waters suggested that First Lady Melania Trump may be undocumented and eligible for deportation.
“When he [Trump] talks about birthright, and he’s going to undo the fact that the Constitution allows those who are born here, even if the parents are undocumented, they have a right to stay in America,” she complained.
”If he wants to start looking so closely to find those who were born here and their parents were undocumented, maybe he ought to first look at Melania.”
“We don’t know whether or not her parents were documented. And maybe we better just take a look,” she added.
By the way, Melania Trump is a naturalized U.S. citizen.
"Maxine Waters is inciting violence in Minneapolis — just as she has incited it in the past. If Speaker Pelosi doesn’t act against this dangerous rhetoric, I will bring action this week".
— Kevin McCarthy (@GOPLeader) April 19, 2021
Whether Maxine Waters resigns or is expelled from congress, in any case, she must go!
“As a sitting United States Congresswoman @MaxineWaters threatened a jury demanding a guilty verdict and threatened violence if Chauvin is found not guilty. This is also an abuse of power,” said Rep. Marjorie Taylor Greene.
This week, as the memorial services for former President George H. W. Bush took place, the Democrats have been practically canonizing him. But that's only a ruse to dig at President Trump.
We should take a "stroll down Memory Lane" and that's what the American Spectator did. They have an article on when Rep. Maxine "Mad Max" Waters called George H. W. Bush a "racist".
They wrote:
"Rep. Waters Labels Bush ‘a Racist,’ Endorses Clinton.”
That was the headline in the July 9, 1992 edition of the Los Angeles Times. “Rep. Maxine Waters (D-Los Angeles) Wednesday branded President Bush ‘a racist’ who has ‘polarized the races in this country,’” reported the article. “Waters said she has pledged to support Bill Clinton’s presidential campaign partly because the soon-to-be-Democratic nominee ‘is much better on the race question’ than Bush.”
Waters blurted out that charge not after a few drinks at the Mayflower or a bad cup of coffee that put her in a disagreeable mood. She leveled it at the National Press Club during a two-hour panel discussion on African-American attitudes on politics. She said she wanted to say “very clearly that I believe George Bush is a racist. I believe he’s a racist for many, many reasons.”
The Times reporter noted that Waters’ gem was met with “wide-eyed stares” from the audience. Still, she was undeterred, adding emphatically that Bush “is a mean-spirited man who has no care or concern about what happens to the African-American community in this country. I truly believe that.”
I mention this now, obviously, because liberals are upholding the late George H. W. Bush as a paragon of decency and civility in politics and the presidency, which he indeed was. But in truth, they didn’t treat Bush with decency or civility, nor his son, George W. Bush, nor his predecessor, Ronald Reagan, nor Richard Nixon or any of a long line of Republicans. They have long engaged in vicious name-calling and character assaults toward Republican opponents.
Waters didn't need "a few drinks" or "a bad cup of coffee" to put her into a disagreeable mood. She's always disagreeable. She's a nasty person, right down to the bone 24/7.
A Livermore man was arrested for attempting to seriously injure a Republican congressional candidate with a switchblade.
A Wyoming Republican office was set on fire.
A Broadway actress asks, "Where's John Wilkes Booth when we need him?"
A Democrat congresswoman calls for harassment of Republicans and Trump Administration officials at restaurants and other public places.
These and other episodes of deranged liberals/leftists inciting violence are making people fearful for their lives.
The Daily Caller reported:
The political left needs to do a better job of policing its members who are “inciting” violence, according to House Majority Whip Steve Scalise, who narrowly survived a politically-motivated mass assassination attempt in July 2017.
Noting recent instances of violence against Republicans, Scalise said that “some on the left are inciting this violence and frankly they should be called out on it.” He added that some Democrats are “almost encouraging” political violence.
Anyone even contemplating electing wacko Democrats needs to have their heads examined.
Nancy Pelosi, Maxine Waters, and the radical left are raising millions upon millions of dollars to create a master plan to attempt to defeat President Trump’s Conservative majority and wipe out his successful America First agenda.
If Democrats take over, the future will look bleak:higher taxes, socialist-style single-payer health care, and a failed big government agenda.
BUT -- if Conservatives stay in Washington, we can continue to see the incredible results of the past two years:huge tax cuts, a booming economy, and an America First agenda that helps our nation thrive.
Should the harassment of Trump Administration officials and other elected persons continue, some kook on the left is going to take things too far and someone's going to get either seriously injured or killed.
Heaven forbid!
Rep. Maxine Waters called for more of this during an interview on MSNBC.
The Gateway Pundit wrote:
This past week Democrats have harassed and abused DHS Secretary Kirstjen Nielsen at a Mexican restaurant and forced her to flee. An unhinged Democrat mob then threatened the female DHS Secretary at her home.
Democrats booted White House Press Secretary Sarah Huckabee Sanders and her family from a Little Liberal Red Hen restaurant.
On Saturday Democrats harassed and heckled Florida AG Pam Bondi and chased her from a movie theater.
Maxine Waters wants more of this.
During her MSNBC interview on Saturday Democrat mouthpiece Maxine Waters called on supporters to “harass” and “resist” Trump officials out in public.
Frankly, I think Waters should be expelled from congress or arrested for trying to incite trouble. She is totally unhinged. She has clearly gone too far.
All this nonsense from the left is, in a warning from Rep. Steve King, possibly going to lead to a second Civil War.
From The Gateway Pundit:
Rep. Steve King posted a warning on Twitter Sunday evening that the U.S. is heading toward a second civil war, comparing the present day actions of the anti-Trump resistance to the run-up to the Civil War.
King, an eight-term Congressman from Iowa, keyed off a PJ Media article about leftist protesters shutting down a Portland, Oregon ICE office and taking down the U.S. flag, replacing with an “Refugees Welcome” flag.
“America is heading in the direction of another Harpers Ferry. After that comes Ft. Sumter.”
The protests are spreading to major cities across the country.
Fort Sumter, South Carolina was the location where the first shots of the Civil War took place in 1861 soon after President Lincoln was sworn in.
King’s warning comes as Democrats and liberal activists are breaking down the norms of civil political society to stalk and harass Trump administration officials, Republicans and Department of Homeland Security employees in public and at their homes. Rep. Maxine Waters (D-CA) commanded such harassment to spread in an interview on MSNBC.
Well, if it comes to another Civil War, I'm prepared.
Rep. Brad Sherman went ahead, against all rationality, to introduce an article of impeachment against President Trump.
This caught the attention of El Rushbo himself, Rush Limbaugh, who posted on Facebook:
Can't believe the Left is actually dumb enough to do this...
Young Conservatives posted:
Somewhere in the People’s Republic of California, Maxine Waters is doing a little happy dance.
Democratic Representative Brad Sherman officially introduced an article of impeachment against President Trump on Monday.
The congressman did so under the belief that the President committed obstruction of justice in his conversations with former FBI Director James Comey.
It was clear liberals were hopeful that James Comey would deliver the evidence they needed for an impeachment case, but few have been willing to call for impeachment since Comey’s disappointing performance last Thursday.
With the exception of Sherman, apparently.
Nobody ever said that Sherman was the brightest bulb on the marquee. Actually, far from it, as this stunt shows he's totally nuts!
If anyone thinks that Trump or the GOP can work with these idiots, they should get their heads examined.
Above, an ad by L.A. street artist Sabo near her townhall meeting.
Rep. Maxine "Mad Maxine" Waters has always been a loon, but since the election of President Trump, she has become more unhinged.
She has a "safe" district in Los Angeles, but that isn't stopping constituents in the district from putting her feet to the fire.
She's been screaming for the impeachment of President Trump, although no crimes have been committed. But that's not stopping her.
Now, people have been calling for her impeachment. And, lampoon ads have been popping up in her district near where she held a townhall meeting calling for her impeachment. (Maybe she's better off remaining in Congress for our comic relief.)
The American Mirror posted:
Is all the impeachment talk boomeranging on Maxine Waters?
A constituent filmed an encounter with the California Congresswoman on Monday and the two clashed before Waters declared that a member of Congress couldn’t be impeached.
A member of Congress can be impeached and removed from office.
Up to now, Waters has never felt the wrath of people for her lunacy. Now she's getting the taste of her own medicine.
Subprime Scandal: Newly released memos from the Clinton presidential library reveal evidence the government had a big hand in the housing crisis. The worst actors were in the White House, not on Wall Street.
During the 1990s, former Clinton aides bragged that more aggressive enforcement of the Community Reinvestment Act pressured banks to issue riskier mortgages, lending more proof the anti-redlining law fueled the crisis.
A 2012 National Bureau of Economic Research study found "that adherence to that act led to riskier lending by banks," with "a clear pattern of increased defaults for loans made by these banks in quarters around the (CRA) exam, (and) the effects are larger for loans made within CRA tracts," or low-income and minority areas.
To satisfy CRA examiners, Clinton mandated "flexible" lending by large banks. As a result, CRA-approved loans defaulted about 15% more often, the NBER found.
Exhibit A in the 7,000-page Clinton Library document dump is a 1999 memo to him from his treasury secretary, Robert Rubin.
"Public disclosure of CRA ratings, together with the changes made by the regulators under your leadership, have significantly contributed to ... financial institutions ... meeting the needs of low- and moderate-income communities and minorities," Rubin gushed. "Since 1993, the number of home mortgage loans to African Americans increased by 58%, to Hispanics by 62% and to low- and moderate-income borrowers by 38%, well above the overall market increase.
"Since 1992, nonprofit community organizations estimate that the private sector has pledged over $1 trillion in loans and investment under CRA."
Other documents reveal how the community-activist group ACORN and other organizations met with Rubin and other top Clinton aides on "improving credit availability for minorities."
Clinton's changes to the CRA let ACORN use the act's ratings to "target merging firms with less-than-stellar records and to get the banks to agree to greater community investment as a condition of regulatory approval for the merger," White House aide Ellen Seidman wrote in 1997 to Clinton chief economist Gene Sperling.
"Community groups have come to recognize how terribly powerful CRA has been as a tool for making credit available in previously underserved communities," Seidman added.
Seidman later boasted that Clinton's 1995 CRA revisions created not only the subprime mortgage market but also the subprime securities market. Of course, subprime loans and their high default rates ruined minority neighborhoods when the market crashed.
Memos also reveal how Clinton aides held repeal of the Glass-Steagall Act hostage to strengthening the CRA. They gave Republicans deregulation of banking activities in exchange for over-regulating how those banking activities applied to low-income communities.
Clinton aides viewed ending the Glass-Steagall Act as a way to "extend the CRA to Wall Street firms" and wanted to extend it to insurers, mutual funds and mortgage bankers. But due to GOP opposition, that was "not politically feasible," Rubin told Clinton in a 1997 memo.
In 2000, HUD Secretary Andrew Cuomo lit the fuse on the subprime bomb by requiring Fannie Mae and Freddie Mac to purchase subprime, CRA and other risky mortgages totaling half their portfolios.
A 1993 memo, "Racism in Home Lending," captured the tone of Clinton's affordable-housing crusade. It proposed coordinating with the Washington Post and Congressional Black Caucus on bank investigations.
These White House papers are smoking-gun evidence of Clinton's culpability in creating the subprime bubble. The mainstream media's silence is deafening.
###
Naturally, because the "fit hit the shan" during the final months of George W. Bush's administration, Democrats try to blame him for the crisis. It was the Bush Administration that first sounded the alarm that fell on deaf ears and led Christopher Dodd, Barney Frank and Maxine Waters (among others) to claim everything's alright and charge the whistle-blowers of racism. [See this.]
Since the media is commemorating the fifth anniversary of the start of the financial crisis, this is a re-post on why it all happened and why we still haven't recovered.
This was originally posted in October 2008. Just a stroll Down Memory Lane for those yo-yos who blame George W. Bush:
The Democrats are up to their eyeballs with responsibility for the current crisis on Wall Street over Fannie Mae and Freddie Mac. Barack Obama was the no. 2 recipient of campaign donations from Fannie Mae (Sen. Christopher Dodd was no. 1).
Two former CEOs of Fannie Mae are now on Obama's staff as economic advisors: Franklin Raines and Jim Johnson. Those two raked in millions of dollars for themselves.
Another noted Democrat was involved (from Michael Reagan's article, link below):
Jamie Gorelick, an official in Clinton’s Justice Department — the woman who built the “wall” that prevented the FBI from targeting terrorists before 9/11 — worked for Fannie Mae and took home $26 million.
Gorelick should be familiar to us from the 9/11 Commission Report as she was the one responsible for keeping the CIA from sharing terrorist data with the FBI before 9/11 thanks to her wall.
The Wall Street Journal has a compendium of articles warning of the debacle and the involvement of Democrats: Wall Street Journal Compendium
The Obama campaign is currently trying to blame Republicans for this crisis, but that won't fly as the real facts are now coming out. In fact, McCain warned of a possible crisis (source: Michael Reagan):
Obama brazenly blames John McCain and the GOP for the current Wall Street mess when it’s clear none of it was due to Republican policies. The truth of the matter is that it was McCain and three GOP colleagues who sought to reform the government’s lending policies three long years ago after the Bush administration had failed two years earlier. On May 25, 2006, McCain spoke on behalf of the Federal Housing Enterprise Regulatory Reform Act of 2005, and warned against the debacle we are now facing if it failed to pass.
He told the Senate that a report by the Office of Federal Housing Enterprise Oversight charged that “Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives.”
McCain warned, “If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.”
McCain predicted the entire collapse we now are suffering through. He stressed the falsification of financial records to benefit executives, including Obama advisers Franklin Raines and Jim Johnson.
Jonah Goldberg at National Review Online writes:
The current financial crisis stems in large part from the fact that people who shouldn’t have been buying a home, or who bought more home than they could afford, now can’t pay their bills. Their bad mortgages are mixed up with the good mortgages. And thanks in part to new accounting rules set up after Enron, the bad mortgages have contaminated the whole pile, reducing the value of even stable mortgages.
Of course, there are other important factors at work here, having to do with changing technology among other things. And even if the bad mortgages weren’t in the system, we’d still have the hangover from the end of the housing boom. But the financial system could have handled that with the usual corrections. The biggest dose of poison entered the financial bloodstream through Washington. And some people warned us. In 2005, Fannie Mae revealed it overstated earnings by $10.6 billion and that it didn’t really know what was going on. The Bush administration pushed for reforms, but those efforts were rebuffed by Congress, with Democrats Barney Frank and Christopher Dodd taking point, because Fannie and Freddie have spent millions in campaign contributions.
In 2005, McCain sponsored legislation to thwart what he later called “the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole.”
Obama, the Senate’s second-greatest recipient of donations from Fannie and Freddie after Dodd, did nothing.
Meanwhile, Raines, the head of a government-supported institution, made $52 million of his $90 million compensation package thanks in part to fraudulent earnings statements.
Hopefully, people will remember this when they go to the polls in November.
***********************************************************************
Since the above was posted, a YouTube video surfaced showing Barney Frank and Maxine Waters attacking "whistleblowers" who were sounding the warning over Fannie and Freddie with Waters injecting the "race card." Just do a search at YouTube for Barney Frank and Maxine Waters along with Fannie and Freddie and you'll find it.
Talk show host Rush Limbaugh mentioned some exit polling taken during the election that show people still blaming President George W. Bush for this economy, despite the fact the President Obama has been in office for nearly four years and whose policies made economic matters worse.
Limbaugh correctly pointed out that for most of Bush's tenure, the economy was robust with 4% unemployment on average, which is considered full employment by economists.
It was only during the end of 2007 and the beginning of 2008 when things went sour due to the mortgage meltdown caused by the sub-prime loan policies of lenders, led by Freddie Mac and Fanny Mae. Bush had nothing to do with those and his administration sounded a warning of potential trouble as far back as 2002.
I sent the following email to Limbaugh today:
One problem I've noticed during the campaign is that Romney and none of the
other GOP candidates offered any kind of rebuttal to Obama's/Democrats' charges
of "Bush's policies got us into this mess." Romney just sat and said nothing
during a debate when Obama stated this.
We know it was the Democrats' policies of extending mortgage loans to
people who had no business in taking them out and who had no means of repaying
them back.
The Bush Administration sounded the alarm as far back as 2002 on problems
with this, but they were met with charges or racism by Maxine Waters, et al.
This will keep on as long as the GOP doesn't "go for the throat" in
rebutting their charges. They keep allowing the "blame Bush" stuff to
stand.
This was originally posted in October 2008. Just a stroll Down Memory Lane for some trolls:
The Democrats are up to their eyeballs with responsiblity for the current crisis on Wall Street over Fannie Mae and Freddie Mac. Barack Obama was the no. 2 recipient of campaign donations from Fannie Mae (Sen. Christopher Dodd was no. 1).
Two former CEOs of Fannie Mae are now on Obama's staff as economic advisors: Franklin Raines and Jim Johnson. Those two raked in millions of dollars for themselves.
Another noted Democrat was involved (from Michael Reagan's article, link below):
Jamie Gorelick, an official in Clinton’s Justice Department — the woman who built the “wall” that prevented the FBI from targeting terrorists before 9/11 — worked for Fannie Mae and took home $26 million.
Gorelick should be familiar to us from the 9/11 Commission Report as she was the one responsible for keeping the CIA from sharing terrorist data with the FBI before 9/11 thanks to her wall.
The Wall Street Journal has a compendium of articles warning of the debacle and the involvement of Democrats: Wall Street Journal Compendium
The Obama campaign is currently trying to blame Republicans for this crisis, but that won't fly as the real facts are now coming out. In fact, McCain warned of a possible crisis (source: Michael Reagan):
Obama brazenly blames John McCain and the GOP for the current Wall Street mess when it’s clear none of it was due to Republican policies. The truth of the matter is that it was McCain and three GOP colleagues who sought to reform the government’s lending policies three long years ago after the Bush administration had failed two years earlier. On May 25, 2006, McCain spoke on behalf of the Federal Housing Enterprise Regulatory Reform Act of 2005, and warned against the debacle we are now facing if it failed to pass.
He told the Senate that a report by the Office of Federal Housing Enterprise Oversight charged that “Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives.”
McCain warned, “If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.”
McCain predicted the entire collapse we now are suffering through. He stressed the falsification of financial records to benefit executives, including Obama advisers Franklin Raines and Jim Johnson.
Jonah Goldberg at National Review Online writes:
The current financial crisis stems in large part from the fact that people who shouldn’t have been buying a home, or who bought more home than they could afford, now can’t pay their bills. Their bad mortgages are mixed up with the good mortgages. And thanks in part to new accounting rules set up after Enron, the bad mortgages have contaminated the whole pile, reducing the value of even stable mortgages.
Of course, there are other important factors at work here, having to do with changing technology among other things. And even if the bad mortgages weren’t in the system, we’d still have the hangover from the end of the housing boom. But the financial system could have handled that with the usual corrections. The biggest dose of poison entered the financial bloodstream through Washington. And some people warned us. In 2005, Fannie Mae revealed it overstated earnings by $10.6 billion and that it didn’t really know what was going on. The Bush administration pushed for reforms, but those efforts were rebuffed by Congress, with Democrats Barney Frank and Christopher Dodd taking point, because Fannie and Freddie have spent millions in campaign contributions.
In 2005, McCain sponsored legislation to thwart what he later called “the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole.”
Obama, the Senate’s second-greatest recipient of donations from Fannie and Freddie after Dodd, did nothing.
Meanwhile, Raines, the head of a government-supported institution, made $52 million of his $90 million compensation package thanks in part to fraudulent earnings statements.
Hopefully, people will remember this when they go to the polls in November.
*********************************************************************** Since the above was posted, a YouTube video surfaced showing Barney Frank and Maxine Waters attacking "whistleblowers" who were sounding the warning over Fannie and Freddie with Waters injecting the "race card." Just do a search at YouTube for Barney Frank and Maxine Waters along with Fannie and Freddie and you'll find it.
California Congresswoman Maxine Waters, D-Los Angeles, is in hot water over ethics violations according to a House Ethics Committee panel.
The Los Angeles Times is reporting:
WASHINGTON — In accusing Rep. Maxine Waters (D- Los Angeles) of violating House ethics rules, congressional investigators have focused on a meeting she arranged with Treasury officials that they say centered on the fortunes of a single bank — one with ties to her husband.
Three months after Waters called Treasury Secretary Henry Paulson to set up the meeting during the financial crisis, OneUnited Bank received $12 million in bailout funds.
Waters' husband, Sidney Williams, served on the bank board from 2004 to 2008 and at the time of the Sept. 9, 2008, meeting was a stockholder in the bank, according to a report from the Office of Congressional Ethics made public Monday.
Waters' husband was on the bank board until April 21, 2008, according to the report. According to Waters' 2008 financial disclosure report, Williams had two investments in OneUnited that were valued between $500,000 and $1 million.
This follows on the heels of the ethics violations of Rep. Charles Rangel, D-NY. A bipartisan House investigative committee formally charged Rangel, who represents the 15th District in Manhattan, with 13 ethics violations last Thursday.
Looks like Maxine's chickens are coming home to roost.
The Labor Department reports that unemployment has reached 9.7%.
According to Reuters:
U.S. employers cut a fewer-than-expected 216,000 jobs in August, while the unemployment rate rose to a 26-year high, the government said on Friday in a report showing a still fragile labor market.
The Labor Department said the unemployment rate rose to 9.7 percent after dipping to 9.4 percent in July and the decline in payrolls was the smallest in a year. The department revised job losses for June and July to show 49,000 more jobs lost than previously reported.
The Obama Administration said that if the stimulous package was passed (and rushed into passage, need I remind you), unemployment would be held at 8%. Well, it didn't happen.
Reuters also reports:
Since the start of the recession in December 2007, the economy has shed 6.9 million jobs, the department said. Stubbornly high unemployment is wearing on consumer confidence and crimping domestic demand, pointing to an anemic recovery from the worst slump in 70 years. Consumer spending accounts for over two-thirds of U.S. economic activity.
I was laid off in November 2007, which was directly attributed to the mortgage meltdown (thanks to the Barney Frank, Christopher Dodd, Maxine Waters and others for the problems with Fannie Mae and Freddie Mac), so the December 2007 date is on the mark as far as I am concerned. Thankfully now, I have two jobs, although combined they don't pay as well as my lost job.
Will unemployment hit 10% during this month? We'll see.
Back in 1986, I ran against then-State Senator Diane Watson in the the South Bay (which includes Hawthorne, where I lived) area of Los Angeles County. I had no desire to become state senator, but I was asked to run for the GOP nomination in the district so that I can make appointments to the California Republican State Central Committee (California Republican Party). It was a project by conservatives to prevent a liberal Republican from becoming state party chairman. I won the GOP primary and had to face Watson in the general election.
Needless to say, I lost the election (the district was and remains heavily Democratic) but got the appointments. We succeeded in preventing the state party chairmanship from going to a liberal.
I thought then that Diane Watson was not the brightest bulb on the marquee. She is now a member of congress and the other day she made some astounding comments about Obamacare, Cuba and those who oppose President Obama. If Watson's congressional district were at least 40% Republican, she'd be gone in an instant.
On Fidel Castro and the Cuban revolution:
It was just mentioned to me by our esteemed speaker, "Did anyone say anything about the Cuban health system?" And let me tell you before you say, "Oh, it's communist," you need to down there and see what Fidel Castro put in place. And, I want you to know... Now, you can think whatever you want to about Fidel Castro but he was one of the brightest leaders I have ever met!
On Obama's opposition:
Now when a Senator says that this will be his Waterloo and we all know what happened at Waterloo, then we have him and he fails. Do we want a failed state called the United States? So remember, they are spreading fear and they're trying to see that the first president who looks like me, fails. And I want you to know people look at the United States as a country that has changed its way and has elected someone from Kenya and Kansas. I'll put it like that.
It is almost as if she's confirming what the "birthers" suspect, namely, that Obama was born in Kenya.
On wanting Obama to fail:
Do you know what that means? If the president, your commander-in-chief, failed, America fails.
No, we want Obama's socialist agenda to fail.
See for yourself, here's a video of Watson making her comments:
She embodies a old saying: "It is better to remain silent and be thought a fool than to speak and remove all doubt."
It appears Watson has been taking lessons in stupidity from her chum, Rep. Maxine Waters.
Facing the first real rough patch of his presidency, President Obama and his supporters are once again resorting to a tried-and-true tactic: attacking George W. Bush and Dick Cheney.
In his White House press conference last week, Mr. Obama referred to the Bush era at least nine times, three times lamenting that he "inherited" a $1.3 trillion debt that has set back his administration's efforts to fix the economy.
With the former president lying low in Dallas, largely focused on crafting his memoirs, Mr. Obama has increasingly attempted to exploit Mr. Bush when discussing the weak economy, the wars in Iraq and Afghanistan and the difficulty closing the military prison at U.S. Naval Base Guantanamo Bay, Cuba.
As he took power, Mr. Obama promised a "new era of responsibility" that would transcend partisan politics.
Obama did not "inherit" the $1.3 trillion debt. He created it. The debt never hit the trillion mark until this month.
The economic problems we currently have were caused by his own party in extending sub-prime loans to people who had no business getting them in the first place. He should point the finger at Barney Frank, Chris Dodd, Maxine Waters and others who caused this mess.
Curl also points out:
Since taking office, Mr. Obama has implemented a $787 billion stimulus package that has failed to produce a quick economic turnaround and the U.S. economy has shed more than 2.5 million jobs.
This isn't Bush's fault. Obama should take responsibility for his and his party's own actions instead of finger-pointing. It is immature and is not leadership.
Above, Rep. Maxine Waters, one of the real culpits of the mortgage crisis.
There are some idiots (mainly Democrats) who try to lay the blame over the current financial crisis on the lap of George W. Bush. (It bears repeating on who the real culprits are as some don't seem to be getting the message.)
The blame on Bush won't wash as it was Republicans who sounded the warning alarms that Fannie Mae and Freddie Mac were headed into dangerous waters.
Fannie Mae and Freddie Mac, and others (including Christopher Dodd's favorite, Countrywide), engaged in subprime mortgage lending so that opportunites for home-ownership low-income people would be created. The mandates that were implemented trace their origins to Jimmy Carter's Community Reinvestment Act of 1977 and Bill Clinton's ordering of the Department of Housing and Urban Development to enforce the CRA regulations. Banks were pushed to modify their lending qualifications and were underwriting loans to a whole range of unqualified buyers by 2006.
Republicans, including Sen. John McCain, raised concerns that government tinkering in the housing market could lead to problems.
Democratic Rep. Barney Frank led the charge in defending Fannie and Freddie: "These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis. The more people exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the Treasury, which I do not see. I think we see entities that are fundamentally sound financially and withstand some of the disaster scenarios. And even if there were a problem, the federal government does not bail them out."
Rep. Maxine Waters, D-Los Angeles, backed Frank and said, "We do not have a crisis at Freddie Mac and particularly Fannie Mae under the outstanding leadership of Frank Raines." She also accused those raising concerns as being "racist" as Raines is black. Raines later directed millions of campaign contributions to Barack Obama's presidential campaign. There's an interesting video on YouTube with Frank and Waters attacking the whistle-blowers.
As Thomas Sowell wrote:
"Those who warned of the dangers had their warnings dismissed." One of those whose warnings were dismissed was our much-reviled, much-blamed, former president, George W. Bush. Bush warned of the problems brewing at Fannie Mae and Freddie Mac at least twice - first in his 2001 budget, and then again in 2003, when he warned that a meltdown by Fannie and/or Freddie could cause "systemic" problems in our financial system.
Who was it that dismissed those warnings? Democrats, including Maxine Waters, Barnie Frank and Chris Dodd, who demonized those giving the warnings as being against low-income housing, and worse!
The Associated Press reported today the following:
WASHINGTON (AP) — Arthur Levitt, the one-time chairman of the Securities and Exchange Commission, blamed his former agency Thursday for failures he said helped cause the financial meltdown.
A resource-strapped SEC allowed confusion and reckless risk-taking to dominate financial markets, Levitt, who led the agency from 1993 to 2001, told the Senate Banking Committee.
"As the markets grew larger and more complex — in scope and in products offered — the commission failed to keep pace. As the markets needed more transparency, the SEC allowed opacity to reign. As an overheated market needed a strong referee to rein in dangerously risky behavior, the commission too often remained on the sidelines," Levitt said.
His testimony came at a hearing on the roots of the economic crisis.
The SEC says the agency's enforcement staff levels are higher now, and the commission has taken many more enforcement actions, than was the case in the 1990s.
An SEC spokesman said he had no direct comment on Levitt's testimony, but noted that as chairman, Levitt hadn't sought the kind of regulations that he's now faulting the SEC for failing to impose.
Indeed, Levitt acknowledged that in 1998, he opposed imposing rules on a type of obscure and extremely complicated financial instrument — known as credit default swaps — that are increasingly being blamed for igniting the crisis. He instead called at the time for establishing a clearing facility to keep better track of the swaps, but didn't seek to mandate one.
"I wish that I had probed further. I wish that I had asked for swaps and derivatives to be given the transparency," Levitt said.
In the thick of the meltdown last month, current SEC Chairman Christopher Cox called for the swaps to be regulated as part of a broader financial overhaul Congress plans to tackle next year.
Sen. Chris Dodd, D-Conn., the panel chairman, blamed unscrupulous lending practices for the meltdown, saying the tactics "will be remembered as the financial crime of the century."
He said regulators "willfully ignored the abuses taking place on their beat."
This would be a laugh, but nobody's laughing. Dodd investigating the mortgage mess is like a robber being put in charge of investigating the robbery. Christopher Dodd, Barney Frank, Maxine Waters and other Democrats are responsible for this economic mess. They fought more regulations on Fannie Mae and Freddie Mac and disregarded Republican warnings of impending disaster. Dodd should look in the mirror.
On October 10, the Wall Street Journal wrote:
The Connecticut Senator has been out front denouncing the "companies that form the foundation of our financial markets," for "their insatiable appetite for risk." He has also decried "reckless, careless and sometimes unscrupulous actors in the mortgage lending industry" and he has proclaimed that "American taxpayers deserve to know how we arrived at this moment." To that end, we propose he take the stand -- under oath.
Former Countrywide Financial loan officer Robert Feinberg says Mr. Dodd knowingly saved thousands of dollars on his refinancing of two properties in 2003 as part of a special program the California mortgage company had for the influential. He also says he has internal company documents that prove Mr. Dodd knew he was getting preferential treatment as a friend of Angelo Mozilo, Countrywide's then-CEO.
That a "Friends of Angelo" program existed is not in dispute. It was crucial to the boom that Countrywide enjoyed before its fortunes turned. While most of the company was aggressively lending to risky borrowers and off-loading those mortgages in bulk to Fannie Mae and Freddie Mac, Mr. Feinberg's department was charged with making sure those who could influence Fannie and Freddie's appetite for risk were sufficiently buttered up. As a Banking Committee bigshot, Mr. Dodd was perfectly placed to be buttered.
In response to the charge that he knew he was getting favors, Mr. Dodd at first issued a strong denial: "This suggestion is outrageous and contrary to my entire career in public service. When my wife and I refinanced our loans in 2003, we did not seek or expect any favorable treatment. Just like millions of other Americans, we shopped around and received competitive rates." Less than a week later he acknowledged he was part of Countrywide's VIP program but claimed he thought it was "more of a courtesy."
Mr. Feinberg, who oversaw "Friends of Angelo" from 2000 to 2004, begs to differ. He told us that as the loan officer in charge he was supposed to make sure that the "VIP" clients knew at every step of the process that they were getting a special deal because they were "Friends of Angelo."
As to Mr. Dodd, Mr. Feinberg says he spoke to the Senator once or twice and mostly to his wife and that like other FOAs Mr. Dodd got "a float down," which means that even after he had a preferred rate, when the prevailing rate dropped just before the closing, his rate was reduced again. Regular borrowers would pay extra for a last-minute adjustment, but not FOAs. "They were aware of it because they were notified and when they went to the closing they would see it," Mr. Feinberg says, adding that he "always let people in the program know that they were getting a very good deal because they were 'Friends of Angelo.'" All of this matters because Mr. Dodd was one of those encouraging Fan and Fred to plunge into "affordable housing" loans made by companies like Countrywide.
One indicator of his influence is the $165,400 in campaign contributions -- more than to any other politician -- that Fan and Fred have given him since 1989, according to the Center for Responsive Politics. These contributions are legal. But favors like those Mr. Dodd is alleged to have received may not be. Mr. Feinberg says he went public with his story because when he heard Senator Dodd on TV talking about predatory lending, he felt it was "hypocritical" and he says, "I just thought, 'This is wrong.'"
Mr. Dodd hasn't yet released his copies of the mortgage documents, though he promised to do so more than two months ago. His office told us this week they'd get back to us on that. Meanwhile, presumably the Justice Department can have Mr. Feinberg's Countrywide documents, if it's interested.
Dodd has much to answer for on Countrywide, Fannie Mae and Freddie Mac. His sweetheart deal with Countrywide amounts to kick-backs.
As Jonah Goldberg wrote in National Review Online:
The biggest dose of poison entered the financial bloodstream through Washington. And some people warned us. In 2005, Fannie Mae revealed it overstated earnings by $10.6 billion and that it didn’t really know what was going on. The Bush administration pushed for reforms, but those efforts were rebuffed by Congress, with Democrats Barney Frank and Christopher Dodd taking point, because Fannie and Freddie have spent millions in campaign contributions.
In 2005, McCain sponsored legislation to thwart what he later called “the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole.”
Obama, the Senate’s second-greatest recipient of donations from Fannie and Freddie after Dodd, did nothing.
Meanwhile, Raines, the head of a government-supported institution, made $52 million of his $90 million compensation package thanks in part to fraudulent earnings statements.
But, ah yes, the greedy criminals responsible for this mess must be somewhere on Wall Street.
Senator, if you really want to find the criminals responsible for this mess, the best place to find them is on Capitol Hill.
The Democrats are up to their eyeballs with responsiblity for the current crisis on Wall Street over Fannie Mae and Freddie Mac. Barack Obama was the no. 2 recipient of campaign donations from Fannie Mae (Sen. Christopher Dodd was no. 1).
Two former CEOs of Fannie Mae are now on Obama's staff as economic advisors: Franklin Raines and Jim Johnson. Those two raked in millions of dollars for themselves.
Another noted Democrat was involved (from Michael Reagan's article, link below):
Jamie Gorelick, an official in Clinton’s Justice Department — the woman who built the “wall” that prevented the FBI from targeting terrorists before 9/11 — worked for Fannie Mae and took home $26 million.
Gorelick should be familiar to us from the 9/11 Commission Report as she was the one responsible for keeping the CIA from sharing terrorist data with the FBI before 9/11 thanks to her wall.
The Wall Street Journal has a compendium of articles warning of the debacle and the involvement of Democrats: Wall Street Journal Compendium
The Obama campaign is currently trying to blame Republicans for this crisis, but that won't fly as the real facts are now coming out. In fact, McCain warned of a possible crisis (source: Michael Reagan):
Obama brazenly blames John McCain and the GOP for the current Wall Street mess when it’s clear none of it was due to Republican policies. The truth of the matter is that it was McCain and three GOP colleagues who sought to reform the government’s lending policies three long years ago after the Bush administration had failed two years earlier. On May 25, 2006, McCain spoke on behalf of the Federal Housing Enterprise Regulatory Reform Act of 2005, and warned against the debacle we are now facing if it failed to pass.
He told the Senate that a report by the Office of Federal Housing Enterprise Oversight charged that “Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives.”
McCain warned, “If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.”
McCain predicted the entire collapse we now are suffering through. He stressed the falsification of financial records to benefit executives, including Obama advisers Franklin Raines and Jim Johnson.
Jonah Goldberg at National Review Online writes:
The current financial crisis stems in large part from the fact that people who shouldn’t have been buying a home, or who bought more home than they could afford, now can’t pay their bills. Their bad mortgages are mixed up with the good mortgages. And thanks in part to new accounting rules set up after Enron, the bad mortgages have contaminated the whole pile, reducing the value of even stable mortgages.
Of course, there are other important factors at work here, having to do with changing technology among other things. And even if the bad mortgages weren’t in the system, we’d still have the hangover from the end of the housing boom. But the financial system could have handled that with the usual corrections. The biggest dose of poison entered the financial bloodstream through Washington. And some people warned us. In 2005, Fannie Mae revealed it overstated earnings by $10.6 billion and that it didn’t really know what was going on. The Bush administration pushed for reforms, but those efforts were rebuffed by Congress, with Democrats Barney Frank and Christopher Dodd taking point, because Fannie and Freddie have spent millions in campaign contributions.
In 2005, McCain sponsored legislation to thwart what he later called “the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole.”
Obama, the Senate’s second-greatest recipient of donations from Fannie and Freddie after Dodd, did nothing.
Meanwhile, Raines, the head of a government-supported institution, made $52 million of his $90 million compensation package thanks in part to fraudulent earnings statements.
Hopefully, people will remember this when they go to the polls in November.
